Topics covered:
1) 0:00 Announcements
2) 0:30 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 3:30 FOCUS LIST: NVDA, MSFT, META, NOW, UBER, LLY, NVO, WING, CRWD, ISRG
4) 8:30 Stock Review – Software: IGV (ETF), PANW, ZS, CDNS, SNPS, CRM, WDAY
5) 10:40 Stock Review – Semiconductors: SMH (ETF), AVGO, LRCX, KLAC, AMD, MRVL, ARM
6) 13:05 Stock Review – Biotech/Medical Products: XBI (ETF), MGNX, VKTX, MRUS, ACAD, ABOS, RXST, PRCT, TMDX
7) 17:15 Stock Review – Watch List/General Ideas/Commentary: SMCI, NFLX, DECK, VRTX, VRT, CLS, CAMT, PSTG, NTAP, CELH, CAVA
8) 20:25 Conclusion/Summary
Market Summary:
Here are the concepts I’ve discussed in many recent videos and in the two 2024 Preview Videos: 1) I am bullish over the next 6-12 months because of all the technical strength we saw from November through January. The institutions aggressively came back into the markets because of the new bull market powered by AI, and they are anticipating the Fed lowering rates this year. 2) Does that mean we will go straight up with no pullbacks? Of course not! That’s why I’ve also discussed the theme of “using the 21-day EMA as your guide.” 3) Stay focused on the best growth stocks/ETFs out there. 4) Get strong entry points and manage your trades based on your timeframe and overall investment plan. If you don’t have a plan, please continue to finetune it and work on one that fits your situation. 5) Manage risk and stick to your stops. Just because it’s a bull market doesn’t mean everything is going to work out.
Coming into this week, I mentioned that we could see some sideways to slightly down price action because the end of February tends to see some seasonal weakness, and we also see some end-of-the-month profit taking. So far this week, that’s exactly what we’ve seen and the price action seems fairly normal, and on light volume. If we see any continued weakness over the next few days, and the Nasdaq Composite reaches its 21-day EMA, that could be an area to add exposure. For the most part, I’m just doing my best to keep things simple. I’m staying approximately 75-90% invested, and I’m sticking with my strong stocks. In this video, I review how many stocks are consolidating nicely, and on light volume. Again, don’t overcomplicate things and don’t overthink things. If you have any questions, you can ask them during the next webinar, which will be this Saturday, March 2nd and 11AM EST. Thank you and good luck for the remainder of the week.
Unusual Option Activity:
2/28/24 Russell 2000 ETF (IWM) 30,000 June $225 calls sell to open at $2.77 as the April $215 short calls adjust higher
2/28/24 Financials ETF (XLF) massive buyer of 33,000 Dec 2025 $37 ITM calls at $7.49, over $24M
2/28/24 Nike (NKE) 1000 January 2026 $90 puts sell to open 8.41, earnings 3-21
2/28/24 Best Buy (BBY) with 450 January $85 puts sold to open 12.25
2/28/24 Airbnb (ABNB) buyer 300 September $190 calls $7 offer
2/28/24 Disney (DIS) here with buyer 5000 May $125/$135 call spreads for $0.97
2/28/24 Goldman Sachs (GS) buyer 400 June $435/$465 call spreads for $3.73
2/28/24 Citigroup (C) buyer 2500 Oct $50 calls $9.26, sells Jan 2026 $70 calls
2/28/24 Viking Therapeutics (VKTX) large buyer of 2000 April $135 calls at $7.50
2/28/24 Viking Therapeutics (VKTX) seeing 1500 March 8th (W) $100 calls bought for $1.5M
2/28/24 Viking Therapeutics (VKTX) also with 500 March $65 puts sell to open here at $2.55
2/28/24 Acadia Pharma (ACAD) opening seller 5000 April $22 puts $0.90
2/28/24 Cytokinetics (CYTK) buyer 1000 June $80 calls $8.50 to $9
2/28/24 Crispr Therapeutics (CRSP) unusual 400 June $120 way OTM calls bought $5.05
2/28/24 Otis Worldwide (OTIS) large rare trade buys 3200 Sept $97.50 calls at $4.59 as the June $92.50 calls adjust higher
2/28/24 Nvidia (NVDA) 1500 March 8th (W) $775 puts selling to open 20.05
2/28/24 Nvidia (NVDA) seeing buyers for over 5000 April $875 calls at $20.50 to $21.75
2/28/24 Nvidia (NVDA) with 1000 June $940 calls sell to open $31.85
2/28/24 Nvidia (NVDA) buyer 1000 December 2026 $1640 calls $70.65 to $71
2/28/24 Amazon (AMZN) massive trade opens 155,000 June $160 calls for $21.10 as the March $145 calls adjust out and up
2/28/24 Amazon (AMZN) also seeing 1500 June 2026 $200 calls bought at $30
2/28/24 Google (GOOGL) opening sale 1000 June 2026 $110 puts 8.90
2/28/24 Google (GOOGL) large sale to open 6000 April 5th (W) $141 calls $3
2/28/24 Arista Networks (ANET) seeing 670 April $280 calls bought 10.60 to 11.10
2/28/24 Meta (META) 1200 November $630 calls bought today near $22.50 to open for $2.7M
2/28/24 Advanced Micro (AMD) with 1000 September $170 puts sold to open $18.70 to $18.60
2/28/24 Super Micro (SMCI) buyer 150 January $850/$1500 call spreads
2/28/24 Dell (DELL) into earnings 1000 January 70 puts sold to open $3
2/27/24 Financials ETF (XLF) 37,500 Jan $43 short puts open $3.46/$3.47 as Jan $40 adjust
2/27/24 Biotech ETF (XBI) buyer of the August $110/$120 call ratios for small debit
2/27/24 Biotech ETF (XBI) also with 1500 April $99 calls buying at $6.20 and 2k April $101 calls at $4.95
2/27/24 Nasdaq 100 ETF (QQQ) seeing 3000 Jan $524.78/$384.78 bullish risk reversals open at $3.70 credits
2/27/24 ARK Innovation ETF (ARKK) seeing a buyer of 5000 April $50 puts at $2.30
2/27/24 Kohls (KSS) with over 4000 March $30/$32 call spreads buying at $0.65 with earnings 3/12
2/27/24 Burlington Stores (BURL) opening sales of 200 Sept $210 puts at $23.30, reports 3/7
2/27/24 Ferrari (RACE) buyer of 1000 April $440 calls for $9.10 to $9.70
2/27/24 Ross Stores (ROST) with 600 January $150 puts selling to open $12.85, reports 3-5
2/27/24 MGM Resorts (MGM) buyer 1000 April $40 calls $3.45 to $3.55
2/27/24 Canadian Natural (CNQ) buyer 460 Sept $70 calls for $4.35
2/27/24 Citigroup (C) with 5000 July $52.50 puts sold to open $1.88
2/27/24 JP Morgan (JPM) 800 January 2026 $200 calls sell to open 17.55
2/27/24 Viking Therapeutics (VKTX) buyers of 2000 April $50 calls at $27 to $29 and also 4k of the $55 calls buying at $24.50
2/27/24 Workday (WDAY) with 1650 March 22nd $265 puts sold to open $1.33
2/27/24 Micron (MU) buyer 2000 March 22nd (W) $105 calls $1.40
2/27/24 Micron (MU) buyer 4000 March $92 calls earlier 2.78
2/27/24 Micron (MU) 1000 May 90/87.5 bull put spreads opening
2/27/24 Micron (MU) seeing buyers of 1200 Sept $100 calls at $8.30 late day
2/27/24 Palo Alto (PANW) 600 June $410 calls bought $10.25 offer sweep
2/27/24 Palo Alto (PANW) 825 March 28th (W) $340 calls with buyers
2/27/24 Palo Alto (PANW) 1000 March 22nd (W) $325 calls with buyers
2/27/24 Google (GOOGL) opening sale 800 August $125 puts $4.25
2/27/24 Zscaler (ZS) opening sale 100 January 2026 $250 puts $53.90
2/27/24 Arista Networks (ANET) 200 July $270 puts sell to open 21.50
2/27/24 Celestica (CLS) opening sale of 2k Feb 2025 $60 calls at $3.29 as the Oct $55 short calls adjust out
2/27/24 Dell (DELL) buyer 1880 July $125 calls $1.30 offer, reports 2-29
2/27/24 Arm Holdings (ARM) buyers 1600 January 2026 $140 calls near $66
2/27/24 Arm Holdings (ARM) 500 Jan 2026 $70 puts sell to open 12.90
2/27/24 Meta (META) 900 June $420 puts selling to open $13.15 bid
2/27/24 Vertiv (VRT) 2000 June 85 calls sell to open 3.17
2/26/24 Nasdaq 100 ETF (QQQ) buyer 34,200 September $485 calls $9.39
2/26/24 Russell 2000 ETF (IWM) buyer 1000 Dec 2025 $205 calls $26.80
2/26/24 Russell 2000 ETF (IWM)also seeing large opening sales of 3800 March 22nd $198 puts at $3.24
2/26/24 Utility ETF (XLU) with 5000 January 2026 $54 puts sold to open for 2.40
2/26/24 Walmart (WMT) April $61.67 call buys up to 9700X
2/26/24 Lowe’s (LOW) seeing 1500 June $220 puts sell to open at $6.76
2/26/24 Starbucks (SBUX) buyer 1700 January $95 calls $9.65 as March adjust
2/26/24 Airbnb (ABNB) buyer 1200 April $155 calls $5.79
2/26/24 Occidental (OXY) with 5000 July $60 puts selling to open at $3.05 bids in large lots
2/26/24 Occidental (OXY) also opening sales of 1000 August $60 puts at $3.42
2/26/24 Shell (SHEL) 2000 June $67.5/$60 bull risk reversals open for 10 cent credit
2/26/24 Zillow (Z) 25,000 May $60 calls buy $2.30 to $2.51
2/26/24 Eli Lilly (LLY) 290 June 780 puts sold to open 48.15 to 47
2/26/24 NetApp (NTAP) buyer 1000 September 120/130 far OTM call spreads for 0.40
2/26/24 Microsoft (MSFT) buyer 2500 Dec. 2026 $400 calls $96 looking to add to OI as $360 adjust
2/26/24 Microsoft (MSFT) December 2026 $375 calls opening 7000X for $76M today
2/26/24 Microsoft (MSFT) buyers 3350 January $435 calls $33.50 offers
2/26/24 Meta (META) 2250 June 2025 $530 short puts opening $20.8M premium as June 2026 $500 adjust
2/26/24 Nvidia (NVDA) large buyer of 2500×3300 April $840/$980 call ratio spreads
2/26/24 Nvidia (NVDA) also over 8000 April $900 calls buying at $21 to $21.75
2/26/24 Google (GOOGL) 25,000 May $130 puts sell to open for 2.72
2/26/24 Google (GOOGL) opening sale 1000 October $125 puts $4.87
2/26/24 Advanced Micro (AMD) seeing opening sales of 4800 March $162.50 puts at $2.25 to $1.80
2/26/24 Arm Holdings (ARM) buyers of 1700 April $160 calls at $17 to $20
2/26/24 Celestica (CLS) buyer of 1000x2000x Sept $47.50/$60 call ratios at $0.80 debit
2/26/24 Super Micro (SMCI) with 200 August $1260 calls bought for $91
2/26/24 Micron (MU) 4000 July $130 calls sell to open $1.22
2/26/24 Apple (AAPL) 1620 June $210 puts sell to open $28.28
2/26/24 Broadcom (AVGO) buyer of 1000 March $1500 calls at $7.60 to $8